Trump poised to tax an additional $200B in Chinese imports

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WASHINGTON (AP) — The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world’s two biggest economies and likely squeezing U.S. companies that import everything from handbags to bicycle tires.

The administration could decide to begin taxing the imports — equal to nearly 40 percent of all the goods China sold the United States last year — after a public comment period ends Thursday.

The administration has already imposed tariffs on $50 billion in Chinese products, and Beijing has punched back with tariffs on $50 billion in American goods. These U.S. goods include soybeans and beef — a direct shot at supporters of President Donald Trump in the U.S. farm belt.